A popular cryptocurrency trader says metaverse-focused Decentraland (MANA) token and two other altcoins are gearing up for a bullish burst.
Pseudonymous analyst Cantering Clark tells his 160,400 Twitter followers that MANA may be following in the footsteps of Filecoin (FIL), a peer-to-peer decentralized storage network that blew up more than 62% last week.
“There are still some alternatives that have key tiers that I wouldn’t rule out just yet, MANA being one of them.”
As of this writing, MANA, an altcoin based on Ethereum (ETH), is trading at $0.717, down almost 2% on the day.
Next, the crypto strategist says he’s building on Hooked Protocol (HOOK), a gamified social learning platform that aims to accelerate web3 adoption. According to Cantering Clark, HOOK could be preparing for a rally towards its recent high of around $4.
“I added more to HOOK here.
Going back to the maximum as the minimum seems reasonable.
-No download yet which usually leads to reaccumulation of new pairs.
-The technicians look good.”
At time of writing, HOOK is worth $2.86, above short-term support from Clark.
Another altcoin on the merchant list is DYDX, the governance token of the dYdX decentralized exchange. Cantering Clark says that DYDX still looks bullish as it continues to trade above multi-month resistance at around $2.74.
“DYDX is still at the top of a nine-month range, and while the chop can be aggressive and painful, I think it still has some gas in it.”
At the time of writing, DYDX is trading at $2.99, down more than 4% on the day.
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